Apple’s Leading Chip Maker Founder to Retire in June

Next summer, Morris Chang, the esteemed founder and former co-chairman of Taiwan Semiconductor Manufacturing (TSMC), will be relinquishing his leadership at the helm of one of the world’s most significant order-to-make microchip producers. His decision signifies the end of a remarkable three-decade long journey at TSMC, during which the company became indispensable in the global tech industry.

His retirement was publicly announced during the 2017 revenue forecasts, surprising an industry that had long speculated about this inevitable transition in TSMC’s leadership. This year, TSMC has experienced a growth rate close to 10 percent in the US. Chang revealed that the company’s revenue surge has been higher than analysts’ projections, surpassing an estimated increase of 4%.

Mark Liu and CC Wei, two current co-executives, will be taking up Chang’s mantle of leadership by June of next year. Liu will step into the shoes of the 86-year-old Chang, orchestrating business decisions and shaping the company’s strategic direction. Simultaneously, Wei will assume the role of the Chief Executive Officer, steering operations and reporting to the board of directors for critical decision making.

Chang’s decision to retreat from his longstanding role at TSMC had been speculated for a long time, especially after he downscaled his obligations in 2013, ceding more responsibilities to Liu and Wei. Now, the industry veteran will complete his planned exit from the company he brought to life back in 1987. In an interview, he expressed, “My decision to retire came gradually. Needless to say, my age had a significant role in this decision. I can say emphatically that, come June, I won’t hold any positions at the company.”

For three decades, TSMC has held a powerful position as one of the preeminent foundry and contract chipmakers globally, overshadowing local competitor United Microelectronics Corp by 30 times. The company’s continuous investment in state-of-the-art production equipment and facility upgrades have enabled it to keep up with rivals like Intel Corp and Samsung Electronics, providing its customers with cutting-edge chip technologies and processors.

The company’s rapid rise from a small operation in 1987 to a global powerhouse today is a testament to Chang’s vision for the tech industry. “When we started, we were creating a new business model. It took people more than a decade to understand how innovative and disruptive our business model could be,” Chang shared. He recollected the skepticism surrounding Taiwan’s place in the semiconductor sector back then, proudly stating how his nation is now regarded as the heart of the semiconductor industry.

According to Chang, the semiconductor landscape looks promising, with a growing demand from China and a proliferation of internet-connected smart devices. TSMC is undergoing preparations to meet the inevitable surge in demand, particularly from the Internet generation. Chang reassured, “More robust plans are in place to ensure TSMC’s success.”

While the industry mourns Chang’s retirement, his calm acceptance of the impending change signifies a welcomed transition within TSMC. This period will allow the storied founder to step away from his corporate responsibilities and spend quality time with his family, away from the whirlwind of whiteboard brainstorming sessions, countless files, and abundant paperwork. His departure, however, leaves a legacy of innovation and growth that will guide TSMC as it continues to conquer technological heights.